Tether Rolling Out Mining Software to Improve Efficiency and Capacity

The team behind the world’s largest stablecoin, Tether (USDT), has announced plans to release revolutionary Javascript Libraries. The announcement conveyed by Tether developers revealed that the proposed Javascript modules would support sending commands and signals to Bitcoin-oriented mining hardware such as WhatsMiner, Antiminer, and AvalonMiner. 

In a Twitter statement, the chief technology officer at Tether, Paolo Ardoino, announced that the Javascript software will undergo further development. The executive projects that some of the software’s core features will be restructured to open-source platforms in the coming days. 

Tether to Support Bitcoin Mining

Ideally, the Tether team anticipates that launching the Javascript software will increase the mining capacity and enhance effective operations. Reflecting on Ardoino’s tweet, the executive confessed that the Bitcoin mining software, among other latest development by Tether, leveraged the Holepunch technologies.

In his tweet, Ardoino explained that Holepunch technologies enabled developers to create peer-to-peer applications using multiple javascript modules. He reaffirmed that Tethers BTC mining infrastructures utilize the Holepunch technologies to gather data and interact with other software effortlessly.

Previously Ardoino renamed Bitcoin mining technologies as “moria.” In his tweet, the executive outlined Moria’s features, including its cost-friendly elements and attack-resistant components.

Besides announcing Tether mining technologies, Ardoino confessed that the latest development would provide miners with a unique private key to enhance data security. The executive added that the private keys will utilize hyper cores and crucial command reception tools to support data encryption and security. Tether’s latest development aims to minimize firewall configuration complexities and reduce system failures.

Tether to Invest in BTC Mining

Additionally, the Moria development aims to improve Tether’s system maintainability and modularity more than ever. The development will ease the replication process across sites, Ardoino added.

Lately, Tether has focused more on expanding the growth of the crypto mining industry amid the intensive regulatory clampdowns. In May, the stablecoin issuer announced plans to reroute 15% of revenue towards acquiring more Bitcoin assets.

Tether anticipates strengthening its existing reserves through Bitcoin to avoid incuring government debts. A Q2 revenue report issued by the stablecoin issuer revealed that Tether’s excess reserves increased by $850 million. The report demonstrated that Tether’s reserves amounted to $3.3 billion in Q2 of 2023. In the subsequent quarter, Tether owned over $1.5 billion in reserves. 

Afterward, the stablecoin issuer announced plans to launch Bitcoin mining activities in Uruguay. News concerning Tether mining expansion exhilarated the community.

According to Tether, the Uruguay mining site will utilize renewable energy to support sustainable Bitcoin mining. The Tether group confirmed plans to partner with the Uruguay-based licensed entity to support responsible Bitcoin mining.

Despite the efforts made by Tether to support the growth of BTC mining, the stablecoin issuer was sued by the regulators for misusing company funds. The report demonstrated that Tether issued short-term loans to Chinese investors against the law.

Leave a Reply

Your email address will not be published. Required fields are marked *